Poland's PGE ordered to pay Alpiq over power contract
WARSAW, Sept 24
WARSAW, Sept 24 (Reuters) - Poland's top power producer PGE must pay Swiss trader Alpiq 43 million euros ($56 million) plus interest for failing to fulfill a power delivery contract, a Vienna-based arbitration court has ruled.
The decision relates to a dispute that began in 2008 over a long-term export contract PGE did not fulfill because of insufficient capacity on the Polish-Slovak border due to a change in Polish regulations, PGE said in a statement on Monday.
The Polish utility said it was considering a challenge to the decision that awarded Alpiq an amount more than three times lower than the trader had initially sought. The award was also half the provision PGE had made for accounting purposes, the utility said.
($1 = 0.7699 euros) (Reporting by Maciej Onoszko; Editing by Michael Kahn and Mark Potter)
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